Russell Investments Group Ltd. Buys 605,170 Shares of Rio Tinto PLC (RIO)

Russell Investments Group Ltd. increased its stake in Rio Tinto PLC (NYSE:RIO) by 124.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,092,553 shares of the mining company’s stock after acquiring an additional 605,170 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Rio Tinto PLC worth $51,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HPM Partners LLC lifted its stake in shares of Rio Tinto PLC by 1.3% in the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock valued at $432,000 after acquiring an additional 132 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Rio Tinto PLC by 0.5% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock valued at $1,276,000 after purchasing an additional 150 shares during the last quarter. Bollard Group LLC raised its position in Rio Tinto PLC by 3.0% during the 2nd quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock valued at $304,000 after purchasing an additional 210 shares during the last quarter. Moors & Cabot Inc. raised its position in Rio Tinto PLC by 2.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock valued at $425,000 after purchasing an additional 264 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Rio Tinto PLC by 2.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after purchasing an additional 281 shares during the last quarter. 7.02% of the stock is owned by institutional investors.

A number of research analysts have commented on the company. Societe Generale raised Rio Tinto PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. Citigroup Inc. downgraded Rio Tinto PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Cowen and Company set a $47.00 target price on Rio Tinto PLC and gave the stock a “hold” rating in a report on Monday, October 16th. Clarkson Capital downgraded Rio Tinto PLC from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. Finally, ValuEngine downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $50.07.

Rio Tinto PLC (RIO) opened at $47.59 on Friday. Rio Tinto PLC has a twelve month low of $36.25 and a twelve month high of $50.77. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.31.

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Rio Tinto PLC Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

Institutional Ownership by Quarter for Rio Tinto PLC (NYSE:RIO)

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